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23VAC10-140-282 Withholding on lottery prizes
Most prize winners pay a fixed federal income tax rate of 24% on their lottery winnings over $5,000 Federal prize withholdings are calculated on the amount of
How much $ Powerball winner takes home after taxes how much tax is taken out of lottery winnings
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The federal tax rate on any prize over $5,000 is 24%, which gets immediately deducted from your winnings And for a large prize like the Mega
how long does lottery payout take However, if a winner's Connecticut Lottery winnings clearly exceed the high income thresholds (single or filing separately: $500,000; head of household:
